RPG Life Sciences is in talks with seven global drug companies, including two domestic firms, to form pacts to enter the US market.
"We hope to file six drug master files with the US Food and Drug Administration, seeking permission to market active pharmaceutical ingredients. We will market speciality products in the field of cardiovascular drugs, oncology, nephrology and pain management in the European and the US markets. We will soon announce some major alliances," said Arvind Vasudeva, managing director, RPG Life Sciences.
RPG Life already has marketing tie-ups with Israel's drug major Teva for the EU market and with the US-based Apotex for the Canadian market.
The company suffered a major setback last year when the US drug major, Ivax, cancelled a supply order worth over Rs 22 crore for three products, following the acquisition of Ivax CP by Teva for $7.4 billion last year.
Ivax moved production of these drugs to Teva's manufacturing facilities. As a result, the net sales of the company declined to Rs 120.29 crore for the year ended March 31, 2007, from Rs 144.3 crore in the previous year.
Vasudeva added that the company would commission its new US FDA-complaint bulk drug manufacturing facility in Navi Mumbai next month. The company will also upgrade its fermentation facility in Ankleswar, which has the UK regulatory approval.
In the domestic market, RPG plans to strengthen its presence by adding more field force and with line extension of major drugs.
The company has leading brands in the market such as Aldactone, Spiromide and Losate in the area of cardiology and Tricaine and Glytop, an anti-diabetic medicine.
On the proposed restructuring of the company by hiving off its pharmaceutical business to a separate entity RPG Pharmaceuticals and by transferring its subsidiary, Instant Trading and Investment Company, to the investment firm, Instant Holdings, he said the move was to focus exclusively on pharmaceutical business.
